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Wednesday, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
 The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity are seasonality, increased stocks and wet and dry weather conditions in the west and east respectively. While S. America activity has already been ‘’hit’’ by the summer seasonal cool-off, effects of El Nino are still evident on the palm oil exports from SE Asia. Needless to say that the impact of this has resulted in long lists of ships available and has pushed freight rates down to new lows. In the meantime, the CPP market in both the Atlantic and the Pacific has not provided support to Owners looking to escape the dull palm and vegetable oil market and has further extended their feeling of uncertainty.
Against Owners’ expectations, the traditional increase of demand before and after the Ramadan has failed to materialize this year. India and Pakistan, the main demand sources, have been very slow, while Europe and China have also been weak. However, the Middle East and Red Sea markets have experienced healthier activity, still not enough to absorb the ample tonnage around though. Palm oil shipments have been 8.5% lower in June compared to May, forcing a number of Owners to heavily compete for each cargo that becomes available in the market. Hire rates during the past month for the usual long haul MR TC Trip to Med-Continent-USA bss delivery at charterer's preferred load port, have dropped from $16,500 to $15,000 per day at the time of writing, the lowest fixing levels in a long time. As far as the regional SE Asia market is concerned, there has been a slight increase of cargoes quoted as charterers look to replenish their stocks, but overall the market is still far from achieving a balance.
After many months of a rather firm market, freight rates on the edible trade lanes from S. America have softened. Having been the strong leg on the triangulation trade for the dedicated on the edible oil market Owners, it has finally followed the rest of the routes on the downside. This is mainly the result of a sharp decrease in Indian demand, which has been traditionally the main destination of vegetable oils from S. America. However, the recent boost of CPP imports into Argentina has led many ships in the area, building as a result a long tonnage list and causing great supply/demand imbalance. On the other hand, there are serious delays on discharging those ships, which causes increased concern to Owners and Charterers that aim to get ships with firm itineraries. With ample tonnage available we do not expect MR veg oil freight rates to firm over the next few weeks. In fact, it is possible that they will soften further. At the moment, the rate for 40k mtons of cargo to India is about USD 36-38 pmt bss 2/2.
The outlook for the Black Sea/Med market is not very different compared to the previous months. Once again, activity is low and it is mostly small parcels that move around. However, there is better luck for FOSFA accepted vessels which are still in demand and able to negotiate better numbers. Despite the slow market, rates have been stable with the usual route to India on 12,000 tons fixing around $ mid/high 50s pmt bss 1/2.
As the summer months roll on, signs of recovery to 2015 levels remain scarce. More likely, palm oil exports/freight rates to India will remain slow until the next festive season of Diwali in October, as for rates ex-S. America things are more complicated, with Atlantic basket CPP fundamentals most likely being the key factor behind the performance of the market there.
By Stelios Kollintzas
Tanker Chartering - Specialized Products Desk
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
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- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
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